Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) Target Price at $22.22

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have received a consensus rating of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $22.22.

A number of equities analysts recently weighed in on the company. StockNews.com cut Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Truist Financial upped their price target on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company upped their price target on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. B. Riley increased their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Mizuho increased their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 21st.

Insider Activity

In related news, CEO Paul Bolno sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 217,351 shares in the company, valued at approximately $3,260,265. This represents a 18.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Wave Life Sciences by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after buying an additional 856 shares during the period. KBC Group NV purchased a new position in shares of Wave Life Sciences during the fourth quarter worth $67,000. Point72 DIFC Ltd purchased a new position in shares of Wave Life Sciences during the third quarter worth $98,000. Raymond James Financial Inc. purchased a new position in shares of Wave Life Sciences during the fourth quarter worth $157,000. Finally, Victory Capital Management Inc. boosted its position in shares of Wave Life Sciences by 16.6% during the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock worth $180,000 after buying an additional 2,073 shares during the period. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Stock Down 4.6 %

Shares of WVE stock opened at $10.66 on Thursday. The stock has a market cap of $1.63 billion, a PE ratio of -9.60 and a beta of -1.09. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $16.74. The business has a 50-day simple moving average of $12.79 and a 200-day simple moving average of $10.62.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.